Interoperability is the ability to communicate and share information between blockchains, or to transfer native assets from one blockchain network to another.
Hundreds of independent public blockchains exist but most of these blockchains lack the ability to communicate with one another, preventing the transfer of assets and data across chains, or the replication of protocol‐specific applications on new chains.
Interoperability is necessary to expand adoption of, build community in, and improve the experience of participation in the blockchain ecosystem as a whole. It prevents the siloization of technology and innovation by allowing token holders to more freely participate in an array of crypto projects without needing to sell their digital assets. Interoperability also increases efficiency by reducing the need for competing technical standards, allowing independent networks to exchange currencies, interact with each other’s financial systems, and reducing the need for proprietary solutions.
Some developers build custom solutions to allow independent blockchains to exist, such as bridges or wrapped tokens. Other blockchains are built to be natively interoperable, such as Polkadot parachains.
→ View more terminology.
Bison Trails is a blockchain infrastructure platform-as-a-service (PaaS) company based in New York City. We built a platform for anyone who wants to participate in 23 new chains effortlessly.
We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 33 protocols with Query & Transact (QT). Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.
In January, 2021, we announced Bison Trails joined Coinbase to accelerate our mission to provide easy-to-use blockchain infrastructure, now as a standalone product line. The Bison Trails platform will continue to support our customers. With Coinbase’s backing, we will enhance our infrastructure platform and make it even easier to participate in decentralized networks and build applications that connect to blockchain data.